Head of Real-Estate Fund Group
Leaves Lazard After 11 Years

NEW YORK -- Lazard Freres & Co., citing difference over "operations, strategy and future direction," said the head of its $2.7 billion real-estate fund-management group has departed.

Although the company said it had asked Arthur Solomon, a managing director, to leave, a spokesman for the 59-year-old executive, who helped found the business at Lazard 11 years ago, said Mr. Solomon had resigned after informing the company...